Baidu Jumps 7% After Q4 Earnings Beat

is up more than seven percent in after hours trading after the company announced its fourth quarter results. The firm reported a Q4 EPS of $1.39 versus the Street estimate of $1.37. Earnings per share were up nine percent from the year-ago period. Revenue arrived at $1.57 billion. "We're pleased to have finished a milestone year for Baidu with a solid fourth quarter performance," Robin Li, chairman and CEO of Baidu, said in a

. "2013 was marked by our entry into new areas and significant progress in mobile, as we invested aggressively to build out Baidu's position in search, app distribution, and location-based services. Our efforts to drive mobile adoption among customers gained significant traction throughout the year. In the fourth quarter, mobile accounted for over 20% of total revenues." Baidu shares have performed well over the last 12 months, rising more than 89 percent. The company has hit a few bumps this year, however. At market close on Tuesday, February 25, the stock was down more than five percent year-to-date. Disclosure: